Mexico Talent Forum: A Changed Power DynamicBy Cinthya Alaniz Salazar | Fri, 03/11/2022 - 14:07
Challenges continue to mount for Mexico's human resource (HR) departments, which for the past two years have had to contend with new work models, employee wellness, new regulatory compliance standards and, most recently, talent scarcity. This transformation shift has forced companies to consider new leadership models, value propositions and technology solutions related to talent recruitment and retention.
While companies were eager to call their workforce back to the office, the move was met with resistance from a changed labor force. Characterized by a newfound autonomy and disposition to preserve their safety, demand fair compensation and maintain a healthy work-life balance, the empowered post-pandemic worker is no longer willing to compromise—even at the expense of a job or career. This trend indicates that even with flexible work models in place, a singular remunerative incentive is no longer enough to satisfy the post-pandemic worker.
Anxious at the prospect of a Great Resignation in Mexico companies have to expand upon their value proposition if they intend to retain and recruit new talent in an increasingly competitive labor market, which is in desperate need for more specialized talent in the increasingly digital economy. Cumulatively, this has engendered the highest talent deficit in 15 years, leaving an estimated 74 percent of businesses with open job positions.
With long-term market permanence and competitiveness at play, companies are increasingly turning to talent professionals for physical and digital solutions for help. Consultancy firms are helping companies understand and comply with the wave of labor market regulatory changes, including the Outsourcing Law, NOM 23, minimum wage increases and other challenges. Digital solutions include the adoption of chatbots, artificial intelligence and machine learning to supplement the productivity of HR professionals by alleviating their workload, allowing them to focus on the tasks that require a human touch.
Overall, ingrained working practices and expectations have disintegrated during the global pandemic, bringing forth a labor economy in favor of the post-pandemic worker. In other words, the traditional top-down work model and singular remunerative incentive have become standards of the past. Companies have seen themselves obligated to take a closer look at other internal factors such as work culture expectations, management style and digital solutions to help with talent retention and recruitment.
Mexico Talent Forum, now hosted on Zoom, will break geographical barriers and welcome global industry leaders to discuss the most pressing labor trends, while simultaneously minimizing COVID-19 related risks or possible outbreaks. The event is organized by Mexico Business, which hosts conferences on Mexico’s most important industries and in 2021 welcomed 2,136 industry-shaping companies and 758 speakers to 13 industry-leading conferences.
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